Gold, Silver Prices Up; US Bullion Coins Unchanged

by Bullion Prices Staff on February 9, 2012

Gold closed higher Thursday, recovering a portion of its losses from Wednesday. April gold prices gained $9.90, or 0.6% to $1,741.20 an ounce on the Comex division of the New York Mercantile Exchange. Gains were attributed mostly to a weaker U.S. dollar.

Thursday’s trading was "all about the dollar, and the Greek deal is supporting the euro, weakening the greenback," MarketWatch quoted Darin Newsom, a senior analyst at Telvent DTN.

Gold is "trading opposite the U.S. dollar index again," said Newsom. "Fundamentals have been tossed out the window for now with the main driver being the direction of the dollar. Gold, crude oil, and most other commodities are rallying."

Gold prices touched an intraday low of $1,728.10 an ounce and reached a high of $1,755.50 an ounce.

In other New York futures, March silver prices edged up 21.3 cents, or 0.6%, to $33.92 an ounce, March palladium prices dipped $4.60 or 0.6%, to $711.30 an ounce and April platinum prices fell 50 cents to $1,667.60 an ounce.

United States Mint Bullion Coin Sales Unchanged

No gains in bullion coin sales were reported by the United States Mint on Thursday. The most recent sales are provided below in the daily, monthly and 2012 columns.

Sales of United States Mint 2012 Bullion Coins

Monday

Tues.

Wed.

Thurs.

Feb.

2012 Sales

1 oz American Gold Eagle

4,000

1,000

2,000

0

8,000

92,500

1/2 oz American Gold Eagle

0

0

0

0

0

49,000

1/4 oz American Gold Eagle

2,000

0

0

0

2,000

40,000

1/10 oz American Gold Eagle

0

0

0

0

0

85,000

1 oz American Gold Buffalo

0

1,000

500

0

1,500

15,000

5 oz America the Beautiful Silver Coins

0

0

0

0

0

5,700

1 oz American Eagle Silver Coins

375,000

200,000

40,000

0

710,000

6,817,000

Notes: Figures above are in coins, not ounces sold. The United States Mint last updated sales of its 5 oz. America the Beautiful Silver Coins on Friday, January 27, 2012. All other figures have an "as of date" of Thursday, February 9, 2012, as published on the Mint website.

In major United States Mint news which is not necessarily related to bullion, the following articles are of note:

The first article is the weekly CoinCollectingNews.org sales report for United States Mint products. The second article provided details on the newly released 2011-P Chickasaw National Recreation Area 5 Ounce Silver Uncirculated Coin. The coin is composed of .999 fine silver, like the American Silver Eagle, and is the 10th release in the the America the Beautiful Five Ounce Silver Uncirculated Coins™ series. The United States Mint on Thursday began selling the five ounce coin for $204.95.

London Bullion Prices

London silver shot lower but other bullion prices edged higher. From the Wednesday PM to Thursday PM London Fix prices:

Gold gained $2, or 0.1%, to $1,748 an ounce,

Silver prices lost 57 cents, or 1.7%, to $33.80 an ounce,

Palladium added $6, or 0.8%, to $713 an ounce, and

Platinum ended up $12, or 0.7%, to $1,659 an ounce

Refer to this site’s home page for always updated bullion prices and news.